Real Estate Development in Mazatlan is expected to last four years

Mazatlan, Sinaloa.- The increase in the construction of buildings has seen a increase in recent years as many developers are interested in building in Mazatlan. However, this growth will only last four years , explained Ismael González, of Keller Williams El Faro.

He mentioned that a very interesting and positive phenomenon is taking place in Mazatlan, since there is a lot of investment. Consumers are making purchases of investment products and not just in homes.

He explained that they are buying a lot of apartment to rent and not to live. He said that this phenomenon is very interesting because it has allowed them to be generating new products, a lot of supply, but at the same time there is a lot of demand. He added that everything is selling.

However, he pointed out that this trend will continue for four to five years, since this situation will eventually have to stabilize.

He added that the city is not prepared for this exponential growth, and as a consequence, in a moment they will have to review all the infrastructure, services and public spaces.

Discontent

These changes have generated discontent in neighbors of different subdivisions due to a gradual loss of surplus value of the properties. He explained: “You enter a subdivision where there are properties of a value of 5 million pesos and suddenly you put a tower with units of a value of 2 million pesos, then, that is not making people happy.

Right now it is changing but on the high side since the land is increasing its value because there is a lot of developers that want to buy to build, but eventually, it will fall because it will not be sustainable “.